SG Americas Securities LLC Has $2.76 Million Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

SG Americas Securities LLC lowered its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 16.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,669 shares of the company’s stock after selling 11,444 shares during the quarter. SG Americas Securities LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $2,759,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ZWS. Norges Bank bought a new stake in Zurn Elkay Water Solutions Cor during the second quarter worth about $64,266,000. Impax Asset Management Group plc raised its stake in shares of Zurn Elkay Water Solutions Cor by 22.8% in the second quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock valued at $180,408,000 after acquiring an additional 916,850 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 6.4% in the 2nd quarter. First Trust Advisors LP now owns 2,708,441 shares of the company’s stock worth $99,048,000 after acquiring an additional 162,080 shares in the last quarter. Woodline Partners LP acquired a new position in shares of Zurn Elkay Water Solutions Cor in the 1st quarter worth approximately $4,632,000. Finally, Beck Mack & Oliver LLC grew its position in Zurn Elkay Water Solutions Cor by 3.7% during the 2nd quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company’s stock worth $135,541,000 after acquiring an additional 133,478 shares during the last quarter. 83.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. The Goldman Sachs Group reiterated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Royal Bank Of Canada initiated coverage on Zurn Elkay Water Solutions Cor in a report on Monday, January 5th. They issued a “sector perform” rating and a $49.00 price target for the company. Mizuho set a $49.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Monday, December 29th. Finally, Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $45.50.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE:ZWS opened at $46.16 on Wednesday. The company has a current ratio of 2.78, a quick ratio of 1.83 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $50.03. The stock has a market capitalization of $7.72 billion, a P/E ratio of 41.21, a P/E/G ratio of 1.99 and a beta of 1.08. The business has a 50-day moving average price of $47.01 and a two-hundred day moving average price of $45.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its earnings results on Tuesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The company had revenue of $455.40 million for the quarter, compared to analyst estimates of $442.62 million. During the same quarter last year, the firm earned $0.34 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Thursday, November 20th were paid a $0.11 dividend. The ex-dividend date of this dividend was Thursday, November 20th. This is a boost from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a yield of 1.0%. Zurn Elkay Water Solutions Cor’s payout ratio is 39.29%.

Insider Buying and Selling

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 7,461 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $47.50, for a total transaction of $354,397.50. Following the completion of the sale, the director owned 162,000 shares in the company, valued at approximately $7,695,000. The trade was a 4.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 20,100 shares of company stock worth $960,105. 2.60% of the stock is currently owned by insiders.

Zurn Elkay Water Solutions Cor Company Profile

Zurn Elkay Water Solutions Corp, trading on the NYSE under the ticker ZWS, is a global provider of water delivery and plumbing products. The company was established in October 2022 through a spin-off from Rexnord Corp, creating a standalone business focused on designing, manufacturing and marketing water system components for residential, commercial and industrial customers.

Through its Zurn segment, the company offers solutions for water delivery, drainage and waste evacuation. Product lines include valves, hydrants, backflow prevention devices, piping systems, fittings and commercial waste stations.